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      6. Mullen Automotive Inc (MULN)

      7. Mullen Automotive Inc (MULN) News

      Mullen Automotive Inc

      Mullen Automotive Inc (MULN)

      NASDAQ
      5.86
      -0.82
      (-12.28%)
      Closed September 23 4:00PM
      Delayed by 15 minutes
      6.026
      0.166
      (2.83%)
      After Hours: 7:59PM
      Delayed by 15 minutes

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      MULN News

      Official News Only

      Form S-8 - Securities to be offered to employees in employee benefit plans
      Edgar (US Regulatory)
      September 20 2024
      MULN (-12.28%)

      Form 8-K - Current report
      Edgar (US Regulatory)
      September 20 2024
      MULN (-12.28%)

      Form EFFECT - Notice of Effectiveness
      Edgar (US Regulatory)
      September 16 2024
      MULN (-12.28%)

      Form 424B3 - Prospectus [Rule 424(b)(3)]
      Edgar (US Regulatory)
      September 13 2024
      MULN (-12.28%)

      Form 8-K - Current report
      Edgar (US Regulatory)
      September 13 2024
      MULN (-12.28%)

      MULN Discussion

      View Posts
      Smilin_B Smilin_B 9 minutes ago
      He will never do a single day in jail, especially when the regulators and SEC have authorized every move he's made this far
      👍️0
      Nebuchadnezzar Nebuchadnezzar 4 hours ago
      CEO will be in jail one day
      🗑️ 1 🤣 1
      double_m double_m 7 hours ago
      In the immortal words of Groucho Marx: "Lying has become one of the biggest inductries in America." DM sure wasn't taking a nap that day in his Economics 101 class.
      👍️0
      janice shell janice shell 7 hours ago
      Has Nasdaq ever forced a company off become of the too many RS limit? A company that didn’t just allow itself to be pulled off but do try to stay?

      Not as far as I know. DRYS did its eight reverse splits in one year before the "new" rule existed. It was certainly one of the most egregious serial splitters ever; maybe it prompted the rule.

      But as you say, they didn't really make any serious provision for enforcement. But let's see what they do with MULN.
      👍️0
      TenKay TenKay 7 hours ago
      I suspect he is a narcissist and thinks he can talk his way out of it like any conman.

      I still LMAO when he feigned audio difficulties during the Charles Payne TV interview when he went right at him.

      These guys fold when they are called on their BS.

      I would love to do an interview with him…😂

      Not sure he would like it….
      👍️ 1 ✔️ 1
      double_m double_m 7 hours ago
      Truely odd because in the past he would usually just have someone type up some nonsense and drop it in an 8K, then piss off back into the shadows. What's so different this time?
      👍️0
      TenKay TenKay 7 hours ago
      I wonder how much “shorty” and “manipulation” bullshit he is going to spew?

      I expect he won’t say a word about the dilution.

      That is the only thing that has affected this stock…whatever the company “performance” is.
      👍️ 1 ✔️ 1
      TenKay TenKay 7 hours ago
      All very good recommendations. What I still don’t see is a suggested prohibition on Nasdaq simply not processing reverse splits even beyond 1:250 within 2 years.

      Then there is no way to RS back into compliance.

      Has Nasdaq ever forced a company off become of the too many RS limit? A company that didn’t just allow itself to be pulled off but do try to stay? I have seen many acquiesce but none that ever got pulled.

      But then I have not done a lot of research until now.

      Right now it appears companies can RS to there heart’s content as long as it is not within a compliance period.

      If I was a penny stock I would simply RS when I got to $2 realizing the announcement itself would probably cut down the stock price further….but as long as I got it done with 10 days left in the 30 trading day window…don’t see evidence they would reject it.
      👍️0
      double_m double_m 8 hours ago
      Mullen Automotive CEO to Update Shareholders in Upcoming Video
      September 23 2024 - 11:00AM

      via IBN – Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces a forthcoming video update for shareholders, provided by Mullen CEO and chairman, David Michery. The Company is planning to release the video update on Tuesday, Sept. 24, 2024, at 9 a.m. Eastern and will be available on MullenUSA.com.
      In the upcoming video, Michery will provide insights into key achievements by Mullen and Bollinger Motors, and recent progress made on expanding domestic and international sales and distribution channels. The video will be available for viewing on Mullen’s website and social media channels on Tuesday, Sept. 24, 2024.

      “I look forward to providing our shareholders an update on our current Company efforts through Sept. 20, 2024. Thank you everyone for the continued support,” said Michery.
      🗑️ 1 🚽 1
      janice shell janice shell 8 hours ago
      I agree. And I agree with the measures proposed by Virtu in its petition to the SEC:

      https://www.sec.gov/files/rules/petitions/2024/petn4-830.pdf
      👍️0
      TenKay TenKay 8 hours ago
      It all depends on whether Nasdaq is serious or just lets the CM become a penny stock cesspool. Ironically, the OTC has better enforced standards at the moment.
      👍️0
      janice shell janice shell 8 hours ago
      I see a rock and a hard place in MULN's future...
      👍️0
      TenKay TenKay 9 hours ago
      “Of course, if it loses its exchange listing, it may have more trouble getting financing...“

      This is the whole game, the whole ball of wax. Even his pretend automotive manufacturing business needs about $16 million a month to keep pretending. They have some significant facility assets and labor needs just to keep the charade going. He is still relying on channel stuffing to find homes for the vehicles they produce but don’t seem to be able to sell.

      If they go to the OTC he will have to declare bankruptcy.

      That is probably the only stick he has to keep existing shareholders from getting in his way.
      👍️0
      janice shell janice shell 9 hours ago
      NASDAQ’s processing of reverse splits and its enforcement of the minimum bid price rule.

      Are they even connected?

      It would seem not.
      👍️0
      ZZZ888 ZZZ888 9 hours ago
      This is the stock that just keeps on giving and giving and giving.

      The only problem is it just keeps giving it to all shareholders in the ass!!!
      👍️0
      ZZZ888 ZZZ888 9 hours ago
      This is the stock that just keeps on giving and giving and giving.

      The only problem is it just keeps giving it to all shareholders in the ass!!!
      👍️ 1
      janice shell janice shell 9 hours ago
      MULN for the record a new 52;week low....unreal....next r/s by christmas?

      Look on the bright side: if the company gets delisted to the OTC, it won't have to worry about $1 minimum bid price. Of course, if it loses its exchange listing, it may have more trouble getting financing...
      👍️0
      m$teamworkotc m$teamworkotc 9 hours ago
      and the DOJ and FBI
      👍️0
      janice shell janice shell 9 hours ago
      Davie boyo deserves recognition.

      You're right. And I hope the SEC gives it to him.
      👍️0
      TenKay TenKay 10 hours ago
      This stock is probably the first time I would see a path for a Class Action to get a return. Normally I ask what the point is because the balance sheet is so upside down there is nothing to attach or recover.

      But it is different here. There are a lot of assets. The Board is exposed because there would be a larger recovery in liquidation than what the stock is worth right now.

      Unfortunately the prefs have priority over most of it, but that would also be an avenue for a claim. There is also, likely, some major D&O insurance to go after as well.

      I hope the inevitable epic failure here has some impact on the reputations of the members of the Board. I think their actions have been a complete betrayal of their fiduciary responsibilities.
      👍️0
      KngmAz KngmAz 11 hours ago
      Probably before that.
      👍️0
      JMCK6193 JMCK6193 11 hours ago
      Lol
      That's a perfect fit
      👍️0
      m$teamworkotc m$teamworkotc 11 hours ago
      in the upcoming class actions----nasdaq should be sued also.its criminal how they allowed $MULN 4 r/s in a year or so.
      👍️0
      TenKay TenKay 12 hours ago
      There is an important distinction I have been wondering about.

      NASDAQ’s processing of reverse splits and its enforcement of the minimum bid price rule.

      Are they even connected?

      Surely the part of Nasdaq that processes Corporate Actions knew they were already well past the 1:250 cumulative ratio…or were they?

      While Nasdaq has proposed new rules to make it easier to get stocks delisted which would suggest their intent to reduce the number of penny stocks on Nasdaq, they ALREADY have tools to do so likely their discretionary authority to delist in the public interest for highly diluted stocks.

      The only reason Michery got the notice was because they could not get everything done by that Friday deadline.

      What is to stop a company from just asking for repeated reverse split well before it goes below $1 and never have to deal with a compliance issue? Nasdaq seems to just process them no matter what.
      👍️0
      m$teamworkotc m$teamworkotc 12 hours ago
      $MULN--see the next episode of AMERICAN GREED starring
      David Michery
      👍️0
      JMCK6193 JMCK6193 12 hours ago
      It boggles my mind as well
      👍️0
      m$teamworkotc m$teamworkotc 12 hours ago
      How he (David Michery) isn't in prison is CRIMINAL
      👍️0
      m$teamworkotc m$teamworkotc 12 hours ago
      MULN for the record a new 52;week low....unreal....next r/s by christmas?
      👍️ 1 ✔️ 1
      Stinger2014 Stinger2014 12 hours ago
      DM is corrupt, SEC is corrupt, or too many people have way too much of disposable income. IMO it’s all three. Been in and out year your years. Sorry to all shareholders like me. Took a while but I learned.
      👍️ 1
      double_m double_m 14 hours ago
      Another PR with the word 'milestone' in it. We all know what that means... free shares for all my friends!!! $MULN
      👍️ 2 ✔️ 1
      Stinger2014 Stinger2014 14 hours ago
      $5.92……time to bye ✌️
      👍️0
      Awl416 Awl416 14 hours ago
      That PR…. Hard not to laugh
      👍️ 1 ✔️ 1
      Wayne R Wayne R 18 hours ago
      Don't worry, it'll probably be delayed enough for Davie boyo to cash in his incentive shares.

      JMO
      👍️0
      shajandr shajandr 19 hours ago
      "The Staff further indicated that, based upon the Company’s implementation of one or more reverse stock splits within the past two years at a cumulative ratio of 250 shares or more to one in contravention of Nasdaq Listing Rule 5810(c)(3)(A)(iv), the Company’s securities were subject to delisting unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the “Panel”). The Company plans to timely request a hearing before the Panel, which request will stay any further suspension or delisting action by Nasdaq at least pending the ultimate conclusion of the hearing process."


      If MULN met the excessive reverse split condition at any time in the last two years when MULN was also below the minimum bid price for 10 consecutive days,then this delisting condition was already met and cannot be cured by another split to raise the minimum bid price.

      If MULN exceeded the cumulative 1 for 250 reverse split(s) within 2 years prior to the date that it was below minimum bid for 10 days, then the September RS will do nothing to fix that. Game over unless they pull a miracle at the hearing.

      MULN did THREE reverse splits in 2023:

      1:25 on 4 May

      1:9 on 11 August

      1:100 on 21 December

      And then one this year:

      1:100 on 17 September

      https://companiesmarketcap.com/mullen-automotive/stock-splits/

      This is waaay in excess of 1-for-250 cumulative reverse splits within 2 years. This is a cumulative 1-for-22,500 reverse split within 2 years. Thus the company is ineligible for any subsequent compliance period, including the September 2024 RS.

      MULN will get a hearing and an appeal, butt it will lose and lose its NASDAQ listing.

      So under Nasdaq Listing Rule 5810(c)(3)(A)(iv) - as cited by MULN in the PR - they cannot meet the requirements for NASDAQ even with the September reverse split - it is too late as once MULN traded below @0.10 for ten days any time after its third split in December 2023, it was ineligible to retain its NASDAQ listing.
      👍️ 1
      Dingbatt Dingbatt 1 day ago
      Blackbird
      Police found my stake truck not my mower past down the street followed them to their house gave me the address question the thieves haven’t been charged yet because probably a bigger ring cost me $1200 to tow and move it or with the cops it’d be towing and storage
      👍️0
      tdbowieknife tdbowieknife 2 days ago
      This thing is toasted - Crispy dark...

      Good luck getting what you can.

      ..


      Buyer Beware
      Pump and dump



      .
      ☠️ 1
      double_m double_m 2 days ago
      I dropped another one to SEC last night😉 notifying them about this fiasco. If they didn't, now they know. I'm averaging about 2 p/wk now. What else do I have to do when I'm watching a baseball game.😆 F'em!!!
      👍️0
      Wayne R Wayne R 3 days ago
      One can only hope that, eventually, what goes around,comes around.

      That isn't really a comfort to those that lost money, but I'm sure it'll make people happy for a couple minutes.
      👍️0
      dukeb dukeb 3 days ago
      If only there was a way to do 2 minutes of research to find out that Michery has a history of doing these kinds of things.

      It takes a lot of time to lose hundreds of millions and drive a company into the ground, screw over shareholders, etc.
      👍️0
      Wayne R Wayne R 3 days ago
      It takes a lot of time to lose hundreds of millions and drive a company into the ground, screw over shareholders, etc.

      Davie boyo deserves recognition. 🤥
      👍️0
      StockItOut StockItOut 3 days ago
      I enjoyed your story. You were in for $12K with 5000 shares at $2.35 .
      👍️0
      janice shell janice shell 3 days ago
      Nasdaq may still yank them.

      Perhaps shareholders who're down to a single share thanks to the reverse splits should write to the Nasdaq complaining. Or even call them.
      👍️0
      janice shell janice shell 3 days ago
      Wait, they received it on Monday the 16th and waited until Friday AH to notify SHs? LMMFAO!!! Crooked bastards!!!

      And although they issue a PR whenever Michery sneezes, they couldn't bother to do it for this.
      👍️0
      janice shell janice shell 3 days ago
      Nasdaq processed the reverse split but still sent a delisting notice and the company still has to request a hearing.

      Looks as if the people who processed the reverse split didn't know about the delisting notice. Which is careless of them. Or of the way Nasdaq is organized.
      👍️0
      janice shell janice shell 3 days ago
      They screwed up and got a delisting notice 4 days ago

      Yep. I only just noticed today's filings now, and I confess I'm surprised. They got the delisting notice the day BEFORE the r/s became effective:

      On September 16, 2024, Mullen Automotive Inc. (the “Company”) received formal notice from the Listing Qualifications department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that, based upon the closing bid price for the Company’s common stock, par value $0.001 per share (the “Common Stock”), for the previous 30-consecutive business day period, the Company no longer satisfied the minimum bid price requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”).

      The Staff further indicated that, based upon the Company’s implementation of one or more reverse stock splits within the past two years at a cumulative ratio of 250 shares or more to one in contravention of Nasdaq Listing Rule 5810(c)(3)(A)(iv), the Company’s securities were subject to delisting unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the “Panel”). The Company plans to timely request a hearing before the Panel, which request will stay any further suspension or delisting action by Nasdaq at least pending the ultimate conclusion of the hearing process.

      https://www.sec.gov/Archives/edgar/data/1499961/000182912624006389/mullenautomotive_8k.htm

      And then 15 minutes later, MULN filed an S-8 registration statement, registering a lot of stock that had been issued to Michery for achieving "milestones":

      https://www.sec.gov/Archives/edgar/data/1499961/000182912624006391/mullenautomotive_s8.htm

      Don't crack a rib laughing...
      👍️ 1
      TenKay TenKay 3 days ago
      They have 4 days to notify the market. He waited until the last minute.

      So this isn’t over quite yet. Nasdaq may still yank them.
      👍️0
      double_m double_m 3 days ago
      Sorry, but I had to! Play with sound🤣🤣🤣
      $MULN I just wanna know when @DavidMichery is willing to buy shares... pic.twitter.com/NO4dnr9Or2— 𝕸𝖎𝖈𝖍𝖆𝖊𝖑 10-4 (@Michael_10_Four) September 20, 2024
      🤣 1
      double_m double_m 3 days ago
      Nothing that comes from $MULN or @DavidMichery can be trusted!

      DM & MA have wiped out more Americans than Covid, so be aware before you give these people your money!

      It’s more than just a soulless company; that’s the ONLY thing they have sold in 3 years=Sold their Souls.. https://t.co/9kWxSIGKQY pic.twitter.com/MTmAiSMV0U— The Dude Abides… (@DeanLeGrand) September 20, 2024
      👍️0
      double_m double_m 3 days ago
      Wait, they received it on Monday the 16th and waited until Friday AH to notify SHs? LMMFAO!!! Crooked bastards!!!
      👍️0
      TenKay TenKay 3 days ago
      Well isn’t that interesting. Nasdaq processed the reverse split but still sent a delisting notice and the company still has to request a hearing.

      So the possibility still exists that Nasdaq will delist regardless of the RS and share price.

      Let’s see what they do…although I expect they will just say…oh you got back to compliance…carry on. The Nasdaq Capital Market has become a joke.
      👍️0

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